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IPMAN denies slashing pump price

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By Elizabeth Uwandu

Contrary to the news making round of the Independent Petroleum Marketers Association of Nigeria () price from N145 to N140 to cushion the effect of the postponement of February 16 elections, Engr. Sanusi Fari IPMAN president said the body never gave such directive.

In a statement made available to Orient Energy Review Magazine, Engr. Fari who called on marketers not to hoard petroleum products, but sell at federal government approved price of N145.

IPMAN president however noted that individual marketers could sale below the stated price.

The statement reads, “The National President of Independent Petroleum Marketers Association of Nigeria , IPMAN Alhaji (Engr.) Sanusi Fari has called on members to continue to render their services to the public in view of the one week postponement of the general elections and not to sell petrol (PMS) above the federal government’s approved of N145.

Members who wish to sell at any price below N145 are free to do so because the government policy that makes the product available encourages price competition.

However, no member should hoard petroleum products at this time because of the election postponement.” he affirmed

In a related development, Mr Kunle Bamigboye, Acting Zonal Chairman , IPMAN Western Zone equally debunked the claims of Elder Chinedu Okoronkwo of the government plan to reduce fuel price.

He said, “Western Zone of IPMAN members are advised to ignore the purported directive in some today’s dailies by one Elder Chinedu Okoronkwo asking member filling stations across the country to revert from N145 per liter of PMS official price to N140 per litre. For the avoidance of doubt, PPMC ex-depot price to us has not been reduced by a dime as at the time of this press release.

“Similarly other related cost associated to getting fuels to our various stations also remained unchanged.

We are therefore at loss as to what informed such unguided and  reckless pronouncement aimed at putting independent petroleum marketers association on a collision cause with the buying public and various government agencies. We therefore disclaim the author of the statement and dissociate IPMAN Western Zone members from the strange pronouncement.” Mr Bamigboye stated.

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